Chicago’s Descent to Junk Doesn’t Rattle Muni ETFs
May 15, 2015 at 08:00 AM EDT
Earlier this week, Moody’s Investors Service lowered Chicago’s credit rating to junk status after the Illinois Supreme Court ruled against a state pension reform plan. Moody’s says Chicago’s public pension plan is underfunded by $20 billion, but some high-yield municipal bond exchange traded funds...